Illinois Municipal Retirement Fund Grows Position in Edison International (NYSE:EIX)

Illinois Municipal Retirement Fund increased its position in shares of Edison International (NYSE:EIX - Free Report) by 34.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 171,971 shares of the utilities provider's stock after purchasing an additional 44,116 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Edison International were worth $10,133,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. grew its stake in Edison International by 4,633.3% during the 1st quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 417 shares in the last quarter. Bellwether Advisors LLC purchased a new position in shares of Edison International during the 4th quarter worth $34,000. OFI Invest Asset Management acquired a new position in shares of Edison International during the 4th quarter valued at about $38,000. SBI Securities Co. Ltd. purchased a new position in Edison International during the fourth quarter worth about $44,000. Finally, Mizuho Bank Ltd. acquired a new stake in shares of Edison International during the 4th quarter worth approximately $50,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Stock Performance

Edison International stock traded up $1.22 during midday trading on Tuesday, hitting $52.82. 3,353,225 shares of the company's stock were exchanged, compared to its average volume of 3,287,988. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.89 and a current ratio of 0.96. The stock has a market cap of $20.32 billion, a price-to-earnings ratio of 7.51, a price-to-earnings-growth ratio of 1.19 and a beta of 0.78. Edison International has a 12-month low of $47.73 and a 12-month high of $88.77. The firm's 50 day simple moving average is $54.33 and its 200 day simple moving average is $58.30.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.21 by $0.16. The company had revenue of $3.81 billion during the quarter, compared to analysts' expectations of $4.29 billion. Edison International had a return on equity of 13.21% and a net margin of 16.84%. The firm's revenue for the quarter was down 6.5% on a year-over-year basis. During the same period last year, the firm earned $1.13 EPS. Equities research analysts predict that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, July 7th will be paid a dividend of $0.8275 per share. The ex-dividend date is Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.27%. Edison International's dividend payout ratio (DPR) is 46.95%.

Analyst Ratings Changes

EIX has been the subject of a number of recent analyst reports. Wolfe Research cut shares of Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Morgan Stanley dropped their target price on Edison International from $52.00 to $51.00 and set an "underweight" rating for the company in a research report on Wednesday, June 18th. The Goldman Sachs Group dropped their price objective on shares of Edison International from $88.00 to $68.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Mizuho cut their price objective on Edison International from $75.00 to $66.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Finally, Barclays lifted their target price on Edison International from $64.00 to $67.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $76.82.

Edison International Profile

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.